Following the recent rumors and statements that Spyker is indeed favorite in the race to take control of Saab, Genii Capital, the Luxembourg-based investment company backed by Formula 1 boss Bernie Ecclestone, decided to walk away from the deal. The official reason behind this decision is that "the timing of the bidding process for Saab is incompatible with implementing a solid business platform for the future".
As said, Spyker and GM are currently involved in deep negotiations, and… (read more)